NEOS Investment Management LLC Acquires 32,694 Shares of Revolution Medicines, Inc. $RVMD

NEOS Investment Management LLC raised its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 34.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 126,921 shares of the company’s stock after acquiring an additional 32,694 shares during the quarter. NEOS Investment Management LLC owned approximately 0.07% of Revolution Medicines worth $5,927,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of RVMD. CWM LLC grew its holdings in Revolution Medicines by 171.3% during the second quarter. CWM LLC now owns 917 shares of the company’s stock valued at $34,000 after purchasing an additional 579 shares during the period. GAMMA Investing LLC lifted its position in shares of Revolution Medicines by 45.1% during the 3rd quarter. GAMMA Investing LLC now owns 837 shares of the company’s stock valued at $39,000 after buying an additional 260 shares in the last quarter. a16z Perennial Management L.P. bought a new position in shares of Revolution Medicines during the 2nd quarter valued at approximately $67,000. AlphaQuest LLC purchased a new stake in Revolution Medicines in the 2nd quarter worth approximately $73,000. Finally, Caitong International Asset Management Co. Ltd raised its stake in Revolution Medicines by 338,500.0% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 3,386 shares of the company’s stock worth $125,000 after acquiring an additional 3,385 shares during the period. Institutional investors own 94.34% of the company’s stock.

Insider Transactions at Revolution Medicines

In related news, CFO Jack Anders sold 10,000 shares of the firm’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $98.00, for a total value of $980,000.00. Following the completion of the transaction, the chief financial officer directly owned 108,065 shares of the company’s stock, valued at approximately $10,590,370. This trade represents a 8.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Stephen Michael Kelsey sold 5,447 shares of the business’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $76.82, for a total transaction of $418,438.54. Following the completion of the sale, the insider owned 278,600 shares in the company, valued at $21,402,052. This represents a 1.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 173,792 shares of company stock worth $15,239,440. 8.20% of the stock is owned by corporate insiders.

Revolution Medicines Stock Down 0.8%

RVMD opened at $99.79 on Thursday. The firm has a 50-day simple moving average of $95.68 and a two-hundred day simple moving average of $67.32. Revolution Medicines, Inc. has a 52 week low of $29.17 and a 52 week high of $124.49. The company has a market capitalization of $19.29 billion, a PE ratio of -19.30 and a beta of 1.01. The company has a quick ratio of 8.05, a current ratio of 8.05 and a debt-to-equity ratio of 0.16.

Wall Street Analyst Weigh In

RVMD has been the subject of a number of recent analyst reports. Wedbush reiterated an “outperform” rating on shares of Revolution Medicines in a research report on Friday, January 9th. Needham & Company LLC lifted their target price on shares of Revolution Medicines from $66.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Royal Bank Of Canada initiated coverage on Revolution Medicines in a research note on Monday, November 3rd. They issued an “outperform” rating and a $77.00 price target for the company. Benchmark reissued an “overweight” rating on shares of Revolution Medicines in a report on Tuesday. Finally, JPMorgan Chase & Co. upped their price objective on Revolution Medicines from $71.00 to $82.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Four investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $78.94.

About Revolution Medicines

Revolution Medicines is a clinical-stage biopharmaceutical company focused on discovering and developing small molecule therapies to treat RAS-dependent cancers and other diseases driven by the RAS/MAPK pathway. The company’s research efforts target historically “undruggable” proteins, aiming to inhibit critical nodes in cell signaling that promote tumor growth and therapeutic resistance.

The lead pipeline includes RMC-4630, a SHP2 inhibitor; RMC-6291, a selective KRAS G12C inhibitor; and RMC-6236, a pan-RAS inhibitor designed to address multiple RAS mutations.